Instructions:
Congratulations! You have just signed a contract to purchase your first home. Your purchase price is $300,000 and you plan to put 20% down. Calculate your monthly principal and interest payments for the life of the loan for
• a 15-year mortgage at 2.875%
• a 30-year mortgage at 3.25%.
Compare and contrast these two options.
• What are the Pros and Cons of each?
Requirements:
• Add the specifics for the type of media, length, and format.
• Submit a Word document or Excel spreadsheet.
• At least 1 page in length.
Be sure to read the criteria below by which your work will be evaluated before you write and again after you write
